Sunday, December 9, 2012

Latin American Middle Class Grows by 50 Percent | Reduction

Latin American Middle Class Grows by 50 Percent

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The middle class in Latin America and the Caribbean region grew by 50 percent over the past decade, according to a World Bank report released Tuesday. Higher levels of education, smaller families and more women and urban dwellers entering the work force were among factors contributing to the increase. The middle class in the region historically plagued by wealth inequality grew to 152 million people in 2009, up from 103 million in 2003, according to the report. The middle class now accounts for roughly 30 percent of the population, roughly the same proportion of the population that lives below the poverty line. "The recent experience of Latin America and the Caribbean shows the world that policies balancing economic growth while still expanding opportunities for the most vulnerable can spread prosperity to millions of people," World Bank President Jim Yong Kim said in a statement.

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Jim Yong

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Organization: World Bank

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Continent: Latin America

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Region: Caribbean

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Country: Brazil

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Country: Mexico

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FieldTerminology: Colombians

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